Reinstated Lockdowns Threaten India’s Oil Demand Recovery

Amid record daily new COVID cases and reinstated lockdowns in populous cities, Indian refiners have started to cut oil processing rates as fuel demand in the world’s third-largest crude importer has started to slip this month.  India is now the second-worst affected country by the coronavirus after the United States and ahead of Brazil. India has been reporting record daily new cases in recent days. On Monday, the capital New Delhi announced a six-day lockdown as hospitals became overwhelmed with patients with severe COVID…